Maridea Wealth Management LLC Takes $956,000 Position in T1 Energy Inc $TE

Maridea Wealth Management LLC acquired a new position in shares of T1 Energy Inc (NYSE:TE) in the 1st quarter, Holdings Channel.com reports. The fund acquired 217,792 shares of the utilities provider’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. NBC Securities Inc. bought a new stake in T1 Energy in the 4th quarter valued at $28,000. First PREMIER Bank bought a new position in T1 Energy during the 4th quarter worth about $30,000. Strs Ohio bought a new position in T1 Energy during the 4th quarter worth about $32,000. Russell Investments Group Ltd. acquired a new stake in shares of T1 Energy in the 4th quarter valued at about $63,000. Finally, Elevatus Welath Management acquired a new stake in shares of T1 Energy in the 4th quarter valued at about $67,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares in the company, valued at $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Sanford C. Bernstein assumed coverage on T1 Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a research note on Tuesday, May 12th. BTIG Research upped their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen cut shares of T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Trading Down 2.8%

T1 Energy stock opened at $8.27 on Friday. The firm has a 50-day moving average of $7.69 and a 200-day moving average of $7.08. T1 Energy Inc has a one year low of $1.15 and a one year high of $12.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -4.07 and a beta of 2.14.

T1 Energy (NYSE:TE) last released its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same period in the prior year, the firm posted ($0.11) EPS. On average, equities analysts expect that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

T1 Energy Company Profile

T1 Energy Inc is an energy solutions provider building an integrated supply chain for solar and batteries. T1 Energy Inc , formerly known as FREYR Battery, is based in NEW YORK.